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Retail Destinations in India (With Diagram and Statistics)

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There has been a tremendous growth in the number of shopping malls in India from none in 1999 to over 350 within one decade. Though this figure is low compared with other developed economies, industry experts expect the growth rate of this sector will remain at 30 to 35% until 2015.

At present, about 400 malls are operational at a Pan- India level with a total area of 70 million sq ft. Further, 200 new malls are expected to be constructed across the country by 2015. This mall growth is fuelled by rising incomes, greater availability of credit and busier lifestyles. The following are the favourite destinations (places) with regard to the retail industry in Tier-I, Tier-II and Tier III cities.

(A) Tier I Cities:

Historically (not always true) these are the old and traditional cities which are famous for commerce and trade since very beginning. These are densely populated cities and have heterogeneous population because due to ample opportunities of trade and commerce, they attract people from all over the country.

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Among them major are:

1. Delhi (NCR):

(i) Huge population

(ii) Highest GDP/per Capita Income

(iii) Increasing Middle class income

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(iv) Developed transport system

(v) Centre for corporate offices

2. Mumbai:

(i) One of densely populated city

(ii) Financial Capital

(iii) Centre for Fashion, Glamour, and Advertising

(iv) Bollywood Advantage

3. Bangalore:

(i) India’s Silicon Valley

(ii) India’s IT and Retail Hub

(iii) Arrival of Namma Metro Project

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(iv) More than 6 million population

(v) Presence of high quality skilled labour

(vi) High per capita income

(vii) Presence of Multinationals

(B) Tier II Cities:

These are the rising urban cities in terms of population, per capita income, and scope for quality education, medical facilities, entertainment and hospitality. The way these cities are heading, in near future they will be at par with Tier I cities.

Further, due to demographic and socio-cultural advances in these cities, not only multinationals but estate and mall developers are being attracted. Consequently, Tier II cities have become the first most choice and reason for widespread organised retail.

Among them major cities with their respective advantages are as follows:

1. Chennai:

(i) Accounts for 60 per cent of the country’s automotive exports

(ii) famous for its sandy beaches, parks and historic landmarks

(iii) Fifth most populous city

(iv) Fourth most populous metropolitan area

(v) India’s second largest exporter of ITES

(vi) People’s special interest in music, dance and all other art forms of South India

(C) Tier III Cities:

Under Tier III Cities basically those cities are included which are under the rapid growth stage. Generally these are connected with all major cities and corporate is eyeing on it for their regional bases. By setting up business offices in these cities, it becomes easy for any corporate office to cover large geographical areas because these cities usually have become the nodal point of trade for all nearby towns, villages and small cities. Population is becoming heterogeneous due to massive immigration.

1. Ahmadabad:

(i) Administrative centre of Ahmadabad district

(ii) Gujarat’s largest city

(iii) Metropolitan population of 5.56 million

(iv) Ranked third as the fastest growing city worldwide

(v) Seventh largest city and seventh largest metropolitan area of India

2. Amritsar:

(i) Attracts more visitors than the Taj Mahal in Agra

(ii) Historical Place

(iii) Important Sikh shrine

(iv) Number one destination for NRIs in the country

(v) Politically significant district

3. Chandigarh:

(i) Adjacent to Panchkula and Mohali

(ii) Capital of two states, Punjab and Haryana

(iii) Cleanest City

(iv) First planned city

(v) The beautiful city

(vi) Tops the list of Indian States and Union Territories with the highest per capita income.

4. Indore:

(i) 15th largest city in India and the 147th largest city in the world